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Sandbridge June 2013 Market Update

There were 5 houses recorded as Closed Sales in Sandbridge for June, 2013. This is dramatically below the 10 houses that closed in June of 2012. The Median Sales price for this year was slightly higher than 2012, this slight uptick has been consistent over the last several months.

4 Sandbridge Condominiums sold in June which was double the 2012 result.  Sales prices for condos ranged from $365,000 to $749,000. The resolution of the lawsuit against the Sandbridge Dunes developer and recent repair of related defects has resulted in higher sales activity.

When we talk about what has sold in Sandbridge Beach for the past month we need to be on the same page. You may have heard discussions about how many houses sold recently. When a contract to purchase real estate is agreed to by the Buyer and Seller it is often referred to as a sale. This is an optimistic look at what should happen if all goes well.

For the purpose of reviewing sales contracts that went all the way to closing we look at which houses transferred title. The money was actually exchanged for the keys. We call these “Closed Sales”.

The houses that closed had a median price of $699,900 with 3,000 square feet. The median house had 7 bedrooms and 4 baths, which is becoming more typical in Sandbridge.  The high sale this month was $1,160,000.

If you would like to discuss our property value based on today’s real estate market, please call me.

Charlie Kelly
Realtor, MBA
SIEBERT REALTY – The Beach People
601 Sandbridge Road Virginia Beach, VA  23456
(757) 355-2233
[email protected] 

Charlie Kelly is your ultimate real estate resource for Sandbridge and surrounding areas. Visit my website for detailed information regarding today’s real estate market